Williams Financial Group Upgrades PulteGroup (PHM) to Buy, Value Strategy Working
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Price: $22.79 +1.60%
Rating Summary:
11 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 19 | Down: 23 | New: 29
Rating Summary:
11 Buy, 10 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 19 | Down: 23 | New: 29
Trade PHM Now!
Williams Financial Group upgraded PulteGroup (NYSE: PHM) from Hold to Buy with a price target of $17.00 (from $13.00).
The analyst comments, "We have been encouraged over the last couple of quarters as
PHM seems to be finally realizing the benefits from its ongoing strategies to drive
improvements through its existing communities while controlling costs across the entire business. The company’s long land position and significant mothballed land combined with somewhat subdued growth vs. peers over the last few quarters has tempered our view of the company’s ability to fully participate and capitalize on the improving housing sector growth. However, after meaningfully improved operational metrics and in-line new order growth combined with the substantial move-up segment
sales improvements, we have turned more positive on PHM's longer-term outlook."
FY12 EPS estimate goes to $0.54 from $0.43 and revenue to $4.81 billion from $4.79 billion. FY 13 EPS goes to $0.98 from $0.77 and revenue from $5.6 billion to $6.1 billion.
For an analyst ratings summary and ratings history on PulteGroup click here. For more ratings news on PulteGroup click here.
Shares of PulteGroup closed at $14.67 yesterday, with a 52 week range of $3.29-$14.85.
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The analyst comments, "We have been encouraged over the last couple of quarters as
PHM seems to be finally realizing the benefits from its ongoing strategies to drive
improvements through its existing communities while controlling costs across the entire business. The company’s long land position and significant mothballed land combined with somewhat subdued growth vs. peers over the last few quarters has tempered our view of the company’s ability to fully participate and capitalize on the improving housing sector growth. However, after meaningfully improved operational metrics and in-line new order growth combined with the substantial move-up segment
sales improvements, we have turned more positive on PHM's longer-term outlook."
FY12 EPS estimate goes to $0.54 from $0.43 and revenue to $4.81 billion from $4.79 billion. FY 13 EPS goes to $0.98 from $0.77 and revenue from $5.6 billion to $6.1 billion.
For an analyst ratings summary and ratings history on PulteGroup click here. For more ratings news on PulteGroup click here.
Shares of PulteGroup closed at $14.67 yesterday, with a 52 week range of $3.29-$14.85.
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